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The Reith Lectures: From moral to market sentiments

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Dr Mark Carney

02/12/2020 GMT

From moral to market sentiments

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How does the way we assess value both shape our values and constrain our choices?

How does the way we assess value both shape our values and constrain our choices? Dr Mark Carney charts how we have come to esteem financial value over human value.

Dr Mark Carney, the former Governor of the Bank of Canada and the Bank of England, will chart how we have come to esteem financial value over human value and how we have gone from market economies to market societies. He argues that this has contributed to a trio of global crises: of credit, Covid and climate. And he outlines how we can turn this around.
 
In this first of four lectures, Mark Carney reflects that whenever he could step back from what felt like daily crisis management, the same deeper issues loomed.  What is value? How does the way we assess value both shape our values and constrain our choices?  How do the valuations of markets affect the values of our society? Carney argues that society has come to embody the Irish writer Oscar Wilde’s old aphorism: “Knowing the price of everything but the value of nothing.”

(Photo: Outgoing Bank of England governor Mark Carney makes a keynote address at the 2020 United Nations Climate Change Conference (COP26). Credit: Tolga Akmen/ Getty Images)

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